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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS
Securities and Exchange Board of India Suggests Threshold-Based Mechanism to Regulate Related Party Transactions
- The Securities and Exchange Board of India (SEBI) has proposed relaxations and a threshold-based framework for Related Party Transactions (RPTs), focusing on disclosure norms and materiality linked to company turnover.
Key Highlights :
- For entities with turnover up to ₹20,000 crore, an RPT is material if it exceeds 10% of annual consolidated turnover.
- For entities with turnover between ₹20,001 crore and ₹40,000 crore, the materiality threshold = ₹2,000 crore + 5% of turnover exceeding ₹20,000 crore.
- For entities with turnover above ₹40,000 crore, the threshold = ₹3,000 crore + 2.5% of turnover exceeding ₹40,000 crore, capped at ₹5,000 crore (upper ceiling).
- This scale-based threshold approach aims to reduce compliance burden for larger companies while ensuring material RPTs get appropriate scrutiny.
- The proposal was back tested with FY24 and FY25 RPT data of the top 100 NSE-listed companies by turnover, showing a 60% reduction in material RPTs requiring shareholder approval.
- The upper ceiling of ₹5,000 crore protects minority shareholders’ interests for large companies.
- Current SEBI norms classify RPTs as material if the transaction exceeds ₹1,000 crore or 10% of turnover, whichever is lower — considered onerous for high turnover firms.
- SEBI also proposed simplified disclosures for RPTs below the materiality threshold to be submitted to the audit committee.
- Changes are proposed regarding omnibus approvals for RPTs to streamline the approval process.
- SEBI is seeking public comments by August 25 on the draft proposal.
Recent News :
- In July 2025, The Securities and Exchange Board of India (SEBI) lifted trading restrictions on US-based high-frequency trading firm Jane Street after it deposited ₹4,844 crore in an escrow account.
About SEBI :
- Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
- Headquarters : Mumbai, Maharashtra
- Chairman : Tuhin Kanta Pandey
- SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.
National Bank for Agriculture and Rural Development Supports Formation of 6,215 Farmer Producer Organisations: Finance Minister Sitharaman
- National Bank for Agriculture and Rural Development (Nabard) has promoted the formation of 6,215 Farmer Producer Organisations (FPOs) under various schemes, as informed in Parliament by Finance Minister Nirmala Sitharaman.
- Major support provided to FPOs includes:
- Formation of FPOs
- Capacity building
- Credit facilitation
- Market linkage support
- Financial literacy
Key Highlights :
- NABARD, in partnership with Small Farmers’ Agri-Business Consortium (SFAC) and Open Network for Digital Commerce (ONDC), conducted FPO Melas (TARANG) at 50 locations across 24 states/UTs to showcase FPO/OFPO products for marketing and branding.
- NABARD provides loan assistance to State Governments for rural infrastructure development through various funds:
- Rural Infrastructure Development Fund (RIDF)
- Nabard Infrastructure Development Assistance (NIDA)
- Rural Infrastructure Assistance to State Governments (RIAS)
- Long Term Irrigation Fund (LTIF)
- Micro Irrigation Fund (MIF)
- Food Processing Fund (FPF)
- Warehouse Infrastructure Fund (WIF)
- Fisheries and Aquaculture Infrastructure Development Fund (FIDF)
- RIDF allocations to States/UTs are based on Priority Sector Lending (PSL) shortfall funds allocated by the Reserve Bank of India (RBI).
- Other funds (besides RIDF) are disbursed based on proposals from State Governments, without fixed yearly allocations.
- A reduction in PSL shortfall funds in FY 2024-25 led to a reduction in RIDF allocations.
- NABARD’s funding enhances rural infrastructure such as roads, irrigation, and storage, improving productivity and market access in rural areas.
- NABARD also provides short-term and long-term refinance to Cooperative Banks and Regional Rural Banks (RRBs) for agricultural loans at concessional rates.
From 2022-23 to 2024-25:
- Sanctioned under RIDF: ₹1,40,789 crore
- Disbursed under RIDF: ₹1,22,595 crore
- Sanctioned under other funds: ₹47,617.63 crore
- Disbursed under other funds: ₹36,439.63 crore
Recent News :
- In July 2025, Over 74.7% rural households expect their incomes to increase in the next one year, according to a bi-monthly survey by the National Bank for Agriculture and Rural Development (NABARD) in July 2025.
About NABARD:
- It is an All India Development Financial Institution (DFI) and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative Banks in India.
- Headquarters: Mumbai, Maharashtra
- Founded: July 12, 1982 by the Government of India
- Chairman: Shaji K V
PhonePe’s Indus Appstore and Alcatel Announce Strategic Partnership as OEMs
- Indus Appstore, a homegrown Android app marketplace by PhonePe, has announced a strategic OEM partnership with Alcatel, a French consumer technology brand.
- As part of the long-term partnership, Indus Appstore will come pre-installed on all Alcatel smartphones in India.
- The collaboration aims to promote localization and enhance app accessibility for Indian users.
Key Highlights :
Indus Appstore offers:
- A catalogue of verified mobile apps and games across 45 categories.
- Support for 12 Indian languages.
- Voice search in 10 regional languages.
- A video-led app discovery
- The app store provides a user-centric alternative to traditional models, helping users discover localized and personalized apps.
- NxtCell India, holding exclusive brand authorization from TCL, is key to this partnership and aligns with the Government of India’s Make in India program.
- Indus Appstore has partnered with Alcatel soon after its India launch, being part of its journey from the beginning.
- Alcatel is a French tech brand (established in 1996), operated by TCL Communication under a trademark licensing agreement with Nokia.
- NxtCell India Private Limited is a 100% Indian-owned company headquartered in Gurgaon.
GST evasion of ₹7.08 lakh crore detected in five years, including ₹1.79 lakh crore input tax credit fraud
- Over the last five years (FY21 to FY25), Central Goods & Services Tax (CGST) field officers detected GST evasion worth approximately ₹7.08 lakh crore across 91,370 cases.
Key Highlights :
- The total input tax credit (ITC) fraud detected during this period amounted to around ₹1.79 lakh crore in 44,938 cases.
- In the 2024-25 fiscal year alone, GST evasion detected was more than ₹2.23 lakh crore, with 15,283 ITC fraud cases amounting to ₹58,772 crore.
- In FY24, GST evasion detected was ₹2.30 lakh crore, including ₹36,374 crore from ITC fraud.
- In FY23, evasion was about ₹1.32 lakh crore, including ₹24,140 crore of fake ITC claims.
- For FY22 and FY21, GST evasion stood at ₹73,238 crore and ₹49,384 crore respectively, including ITC frauds of ₹28,022 crore and ₹31,233 crore.
- The government recovered over ₹1.29 lakh crore through voluntary deposits during these five years.
- To combat evasion, the government and GSTN have implemented measures like digitisation through e-invoicing, GST analytics, system-flagged mismatches, intelligence-driven audits, and risk-based scrutiny of taxpayers.
- These measures help safeguard revenue and detect tax evaders, according to Minister of State for Finance Pankaj Chaudhary.
- The net CGST collection for FY25 was ₹10.26 lakh crore, about 96.7% of the Revised Estimates (RE) of ₹10.62 lakh crore.
- In FY24, net CGST collection was ₹9.57 lakh crore, slightly exceeding the RE of ₹9.56 lakh crore.
Recent News :
- India’s GST collections rose to ₹1.96 lakh crore in July 2025, marking a 7.5% increase compared to July 2024.
Insurance Regulatory and Development Authority of India levies ₹5 crore penalty on Policybazaar Insurance Brokers
- IRDAI (Insurance Regulatory and Development Authority of India) has imposed a ₹5 crore penalty on Policybazaar Insurance Brokers for violations of insurance norms.
- The penalty was levied on M/s Policybazaar Web Aggregator Pvt Ltd, which is now renamed as M/s Policybazaar Insurance Brokers Pvt Ltd.
- The action was taken due to lapses and violations under the Insurance Act, 1938 and related Rules and Regulations.
- Along with the penalty, IRDAI issued directions, advisory, and caution to the company.
- Policybazaar, founded in 2008, has sold over 42 million policies since its inception.
- The regulator emphasized strict compliance with insurance laws to safeguard consumer interests and maintain industry standards.
Recent News :
- In July 2025, The Insurance Regulatory and Development Authority of India (IRDAI)has imposed a ₹1 crore penalty on Edelweiss Life Insurance Company for violation of corporate governance norms.
About IRDAI:
- Headquarters (HQ): Hyderabad, Telangana, India
- Chairperson: Ajay Seth
- Founded: 1999
President Donald Trump Tariffs Expected to Reduce India’s Exports to US by 30% in FY26
- India’s merchandise exports to the US are expected to contract by 30% to $60.6 billion in FY26 due to additional 25% tariffs imposed by the US under President Donald Trump.
- India faces a 25% country-specific tariff plus an extra unspecified penalty, one of the highest among Asian exporters, second only to China’s 30% tariff.
- Competitors like Vietnam (20%), Bangladesh (18%), Indonesia, Malaysia, Philippines (19%), and Japan, South Korea (15%) have lower tariffs, putting Indian goods at a disadvantage.
- Tariffs exclude pharmaceuticals, energy products, critical minerals, and semiconductors, but most other sectors are affected.
Key Highlights :
Sector-Wise Impact
- Garment exports (knitted and woven worth $2.7 billion each) face very high tariffs of 38.9% and 35.3%, higher than competitors like Vietnam and Bangladesh.
- Made-up textiles (e.g., towels, bedsheets), earning $3 billion with half exported to the US, face a 34% duty, benefiting competitors like Pakistan and Vietnam.
- Shrimp exports worth $2 billion (32% of global supply) now face a 25% tariff, losing price advantage over Canada and Chile.
- Jewellery exports worth $10 billion (40% of global trade) face a 27.1% duty, severely impacting the sector with thin profit margins.
- Engineering exports ($6.7 billion machinery and $2.6 billion auto parts) face tariffs over 26%, higher than Mexico (0%) and Japan (15%).
- Petroleum exports ($4.1 billion) remain tariff-free but risk penalties due to India’s use of Russian crude.
- Pharmaceuticals ($9.8 billion) and smartphones ($10.6 billion) are currently exempt, but face potential tariff threats from the US.
Challenges and Recommendations
- Global trade is becoming less open with increased controls due to politics, security, and climate rules.
- To offset export losses, the government should revive the Interest Equalisation Scheme (IES) with a ₹15,000 crore annual budget for subsidized credit to exporters, especially MSMEs.
- Other suggestions include:
- Fast-tracking Free Trade Agreements (FTAs)
- Handholding exporters to navigate regulations and tariffs
- Encouraging more companies to enter the export market
CURRENT AFFAIRS: NATIONAL AND STATE NEWS
NITI Aayog Launches India Electric Mobility Index (IEMI) to Track State-Level EV Progress
- NITI Aayog introduced the India Electric Mobility Index (IEMI), a pioneering tool designed to comprehensively track and benchmark the progress of all Indian States and Union Territories (UTs) in achieving their electric mobility targets.
- The launch event was graced by Shri Rajiv Gauba, Member, NITI Aayog, along with other dignitaries including Shri B. V. R. Subrahmanyam (CEO, NITI Aayog), Shri Kamran Rizvi (Secretary, Ministry of Heavy Industries), and senior NITI Aayog officials.
Key Highlights:
- Role of States in India’s EV Ambition: States and UTs are critical in driving India’s goal to reduce transport sector emissions and achieve net-zero emissions by 2070 through localized policies, infrastructure development, and equitable access to e-mobility benefits.
- Three Core Themes of IEMI: The Index scores States and UTs (out of 100) across 16 indicators under these themes:
- Transport Electrification Progress – measuring demand-side adoption of electric vehicles.
- Charging Infrastructure Readiness – tracking development of allied charging infrastructure.
- EV Research and Innovation Status – assessing supply-side R&D efforts within the EV ecosystem.
- Purpose of IEMI: The Index offers a transparent, comparative framework for states to benchmark their performance, recognize key drivers of success, identify gaps, and learn from best practices.
- Promoting Coordination and Collaboration: IEMI highlights the importance of state-level coordination, integrated planning, and cross-sector collaboration for advancing India’s electric mobility vision.
RECENT NEWS
- NITI Aayog, in partnership with the Ministry of Development of North Eastern Region (MoDoNER) and UNDP, released the second edition of the North Eastern Region District SDG Index (2023-24) on July 7, 2025, in New Delhi.
Pension Fund Regulatory and Development Authority Launches Modernized Website under PFRDA CONNECT Initiative
- The Pension Fund Regulatory and Development Authority (PFRDA) has launched its new and upgraded website as part of the PFRDA CONNECT project.
- The launch was conducted by Shri S. Ramann, Chairperson, PFRDA, in New Delhi.
- This initiative marks a transformative digital milestone that aligns with PFRDA’s vision to promote transparency, efficiency, and accessibility in the governance of the pension sector by leveraging cutting-edge technology.
Key Highlights:
- Compliance with Government Guidelines: The website has been designed and developed following the Government of India’s guidelines and is fully compliant with GIGW (Guidelines for Indian Government Websites) and WCAG (Web Content Accessibility Guidelines), ensuring accessibility and inclusiveness for all stakeholders.
- Enhanced User Experience: The upgraded website offers a streamlined content structure with dynamic and responsive layouts, providing an intuitive and smooth navigation experience for subscribers, intermediaries, and the public.
- Centralized Access to Information: Users can easily access regulatory updates, circulars, and pension schemes through a centralized portal.
- Advanced Search and CMS: The website features enhanced search capabilities and a user-friendly Content Management System (CMS) to simplify content updates and improve usability.
- Integration with Regulatory Platforms: It supports seamless integration with other regulatory platforms and services, facilitating better connectivity and stakeholder engagement.
- Commitment to Digital Transformation: The launch exemplifies PFRDA’s proactive approach towards digital transformation and its commitment to enhanced stakeholder engagement in India’s pension sector.
- Website Availability: The new website is now live and accessible at https://www.pfrda.org.in.
- Future Vision: PFRDA aims to build an inclusive, technology-driven regulatory ecosystem for India’s pension sector, with this launch serving as a significant step in that direction.
India Becomes World’s Fifth Largest Aviation Market in 2024: IATA
- India has emerged as the fifth largest aviation market globally in 2024, handling 241 million passengers, according to the World Air Transport Statistics (WATS) 2024 released by the International Air Transport Association (IATA).
- The Mumbai-Delhi route was also recognized among the world’s busiest airport pairs.
Key Highlights:
- India’s Passenger Growth:
India handled 211 million air passengers in 2024, registering a growth of 11.1% over 2023. This pushed India ahead of Japan, which saw 205 million passengers with an 18.6% annual growth. - Top Global Aviation Markets:
- 1st – United States: 876 million passengers (5.2% year-on-year growth), supported by its large domestic market.
- 2nd – China: 741 million passengers (18.7% growth).
- 3rd – United Kingdom: 261 million passengers.
- 4th – Spain: 241 million passengers.
- 5th – India: 241 million passengers.
- Passenger Figures:
The IATA data includes all domestic and international passengers, whether departing or arriving in each country. - Busiest Airport Pairs:
- Mumbai–Delhi ranked 7th globally, with 5.9 million passengers in 2024.
- Jeju–Seoul (CJU–GMP) in South Korea was the world’s busiest route with 13.2 million passengers.
- 9 out of top 10 busiest airport pairs were from the Asia-Pacific region.
- The only non-Asia Pacific pair in the top 10 was Jeddah–Riyadh (JED–RUH).
- Premium Class Travel Trends:
- International premium class (Business & First class) travel grew 11.8% globally.
- Total premium class passengers: 116.9 million, which was 6% of international passengers.
- Asia Pacific led with 22.8% growth in premium travel, totalling 21 million premium passengers.
- However, economy class in Asia Pacific grew faster at 28.6%, reaching 500.8 million passengers.
- In contrast, premium travel outpaced economy in Europe, Latin America, the Middle East, and North America.
- Europe had the largest market for premium travel with 39.3 million passengers.
- Middle East recorded the highest share of premium travellers among total travellers at 14.7%.
- Most Utilized Aircraft Types:
- Boeing 737 topped with 10 million flights and 2.4 trillion Available Seat Kilometres (ASKs).
- Airbus A320 followed with 7.9 million flights and 1.7 trillion ASKs.
- Airbus A321 recorded 3.4 million flights and 1.1 trillion ASKs.
About IATA
- Headquarters: Montreal, Canada
- Founded: 19 April 1945, Havana, Cuba
- Director general: Willie Walsh
- Membership: 349
Pariksha Pe Charcha Earns Guinness World Record for Citizen Engagement
- Prime Minister Narendra Modi’s flagship initiative, Pariksha Pe Charcha, has earned the Guinness World Record for the ‘Most people registered on a Citizen Engagement Platform in one month’, with 53 crore registrations recorded during its 8th edition hosted on the MyGov platform.
Key Highlights :
- Guinness Recognition: The official Guinness World Record certificate was formally presented in New Delhi at a special ceremony.
High-Level Presence at the Ceremony: The event was attended by:
- Union Education Minister Dharmendra Pradhan
- Union Minister for Electronics & IT, Railways, and I&B – Ashwini Vaishnaw
- Other senior dignitaries
- Concept and Leadership: Pariksha Pe Charcha is a unique initiative conceptualized and led by Prime Minister Narendra Modi, offering a platform for direct interaction with students, teachers, and parents.
- Massive Participation: The 8th edition recorded 3.53 crore registrations, making it the largest citizen engagement campaign in a single month globally.
- Impactful Viewership: Across all media platforms, the initiative witnessed over 21 crore viewership in 2025, reflecting its wide outreach and popularity.
LTIMindtree Selected for PAN 2.0 Project to Upgrade Income Tax Infrastructure
- The Income Tax Department has awarded the prestigious PAN 2.0 project to LTIMindtree Ltd, a mid-sized IT firm and subsidiary of Larsen & Toubro, for upgrading the technology infrastructure for managing Permanent Account Numbers (PANs).
- The selection was made through a public bidding process as per the government’s public procurement portal.
Key Highlights:
- Winning Bid:
- LTIMindtree’s quoted bid: ₹811.5 crore (exclusive of taxes).
- Adjusted bid value: ₹792.55 crore (exclusive of taxes) — calculated as per criteria set in the Request for Proposal (RFP) to ensure fair comparison among four submitted bids.
- Bid Selection: The department received four bids, and LTIMindtree was declared the successful bidder based on bid evaluation norms.
- Scope of PAN 2.0 Project:
- Aim: Modernize and streamline the issuance and management of PAN and TAN.
- Includes services like allotment, corrections/updates, Aadhaar-PAN linking, reissuance requests, online PAN validation, and more through a unified digital platform.
- Focus on enhancing public service quality, grievance redressal, and security using advanced technology.
- Timeline: The project is expected to go live in 18 months from the date of initiation.
- Cabinet Approval: Cleared by the Cabinet Committee on Economic Affairs in November 2024.
- Database Size:
- Over 780 million PANs
- Around 7.33 million TANs
- Importance of PAN:
- Mandatory for filing tax returns, opening bank accounts, high-value cash transactions, buying property, vehicles, stocks, etc.
- Enables linking of financial transactions such as tax payments, income returns, investments, borrowings, etc.
- TAN Overview:
- Tax Deduction and Collection Account Number (TAN) is required for entities that deduct or collect tax at source.
- Digital Governance and Cost Optimization:
- The PAN 2.0 initiative aims to optimize costs, enhance security, and upgrade taxpayer digital experience.
- Aims to modernize the entire PAN-TAN ecosystem under the e-governance model.
- Future Integration:
- PAN will be used as a common identifier across multiple government digital systems, as announced by Finance Minister Nirmala Sitharaman in the February 2023 Budget Speech.
- This move will enhance ease of doing business and will be supported through a legal mandate.
NITI Aayog Releases Report on ‘Unlocking a $200 Billion Opportunity: Electric Vehicles in India’
- In a major step toward India’s clean mobility goals, NITI Aayog launched the report titled ‘Unlocking a $200 Billion Opportunity: Electric Vehicles in India’, offering a comprehensive and timely assessment of the country’s electric vehicle (EV) ecosystem.
- The report was launched in the presence of Shri Rajiv Gauba, Member, NITI Aayog, Shri B.V.R. Subrahmanyam, CEO, NITI Aayog, Shri Kamran Rizvi, Secretary, Ministry of Heavy Industries, Shri O.P. Agarwal, Distinguished Fellow, NITI Aayog, and Shri Sudhendu Sinha, Programme Director – E-Mobility, NITI Aayog, among other dignitaries.
Key Highlights:
- Ambitious EV Target: India is targeting a 30% share of electric vehicles in total vehicle sales by 2030.
- Growth in EV Sales:
- India: EV sales rose from 50,000 in 2016 to 2.08 million in 2024.
- Global: Global EV sales increased from 918,000 in 2016 to 18.78 million in 2024.
- EV Penetration:
- In 2020, India’s EV penetration was only about one-fifth of the global average.
- By 2024, this improved to over two-fifths, indicating a gradual but positive trend.
- Need for Acceleration: The report notes that although India’s EV transition has picked up, it is still relatively slow, requiring stronger policy and strategic interventions.
- Extensive Consultations: The report was prepared through extensive stakeholder discussions held across 7 dedicated convenings at NITI Aayog.
- Key Contributions of the Report:
- Presents multiple approaches to accelerate EV transition.
- Recommends immediate next steps to kickstart broader EV adoption efforts.
- Identifies barriers, strategic unlocks, and actionable recommendations for stakeholders.
- Policy Alignment:
- Supports Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) initiatives.
- Aligns with India’s Net Zero Emissions vision and overall clean energy transition goals.
India’s First Megawatt-Scale Make-in-India Green Hydrogen Plant Commissioned at Kandla Port
- Prime Minister Narendra Modi praised the commissioning of India’s first indigenous megawatt-scale green hydrogen plant at Kandla Port, Gujarat, calling it a vital step toward sustainability and India’s Net Zero vision.
- The facility, developed under the Make in India initiative, highlights Gujarat’s leadership in renewable energy and sustainable infrastructure.
Key Highlights:
- First in Indian Port Sector: Deendayal Port becomes the first Indian port to operationalize a megawatt-scale green hydrogen plant.
- Make-in-India Achievement: The plant was fully developed by Indian engineers, reinforcing the goals of Aatma-Nirbhar Bharat in the clean energy sector.
- Part of 10MW Project: This is the first module of a larger 10MW green hydrogen project announced by PM Modi in May 2025.
- Fast-Track Construction: Built in just four months, showcasing India’s ability to execute large-scale green projects efficiently.
- Annual Production Capacity: The facility can produce up to 140 metric tonnes of green hydrogen per year, boosting India’s Net Zero emissions goals.
- Strengthening Green Maritime Infrastructure: This follows DPA’s earlier success with India’s first Make-in-India electric Green Tug, further promoting sustainable maritime operations.
RECENT NEWS
- Gujarat has become the first Indian state to launch a Tribal Genome Sequencing Project, aimed at improving healthcare for tribal communities through genetic research. The initiative focuses on early detection of hereditary diseases and development of personalised medical solutions using genome data.
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Sanjiv Goenka Named as Head of Telangana Sports Hub
- The Telangana government appointed Sanjiv Goenka, Chairman of RP Sanjiv Goenka Group, as Chairman of the Telangana Sports Hub to promote the sports ecosystem in the state.
- Upasana Kamineni, Founder of URLife and granddaughter of Apollo Hospitals founder Prathap Reddy, appointed as Co-Chairwoman of the Hub.
- Prominent sports personalities like former India cricket captain Kapil Dev and former badminton player Pullela Gopichand are members of the Hub.
- The Sports Hub will provide strategic leadership and policy guidance in areas such as infrastructure development, training, and sports education.
- The Hub will manage the Telangana Sports Development Fund (TSDF).
- Telangana Chief Minister Revanth Reddy launched a first-of-its-kind Sports Policy aiming to help the state compete globally and win Olympic medals.
- The policy encourages public-private partnerships in sports to avoid political interference.
- The Sports Policy is part of the TelanganaRising 2047 vision document.
- Plans include establishing a Sports University and a Sports Academy in Telangana under the new policy.
PB Balaji Becomes First Indian CEO of Tata-Owned Jaguar Land Rover
- PB Balaji was appointed as the Chief Executive Officer (CEO) of Jaguar Land Rover (JLR), becoming the first Indian to hold this position at the British brand.
- He will succeed Adrian Mardell, who is retiring after three years as CEO and 35 years with JLR.
- Balaji is currently the Group Chief Financial Officer (CFO) of the Tata Motors Group, the parent company of JLR.
- His appointment as CEO of JLR is effective from November 2025, as approved by JLR’s Board of Directors on August 4, 2025.
- Adrian Mardell will assist during the transition period until the end of his contract.
- The JLR Board conducted an extensive search for a suitable candidate before selecting Mr. Balaji.
- Balaji is well-acquainted with JLR’s strategy and leadership team, having worked closely with them.
- Tata Motors Chairman Natarajan Chandrasekaran said this move will accelerate the company’s journey to “Reimagine JLR.”
- Balaji has 32 years of experience in the automotive and consumer goods industries, with expertise in finance and supply chain functions.
- He has led large global teams in diverse cultural environments, including Mumbai, London, Singapore, and Switzerland.
- His leadership contributed to the successful transformation of the Tata Motors Group since becoming Group CFO in November 2017.
CURRENT AFFAIRS : SCIENCE & TECHNOLOGY
Hyderabad-based Dhruva Space to send its first commercial satellite on SpaceX’s Falcon-9 rocket
- Dhruva Space, a Hyderabad-based space tech startup, will launch its first commercial satellite mission LEAP-1 by the third quarter of 2025 onboard SpaceX’s Falcon-9 rocket.
- The mission will use an indigenously developed P-30 satellite platform, which was space-qualified in January 2024 during a test mission with ISRO’s PSLV-C58.
- The satellite technology has diverse applications including defence, disaster management, agriculture, mining, and environmental management.
Key Highlights :
LEAP-1 will carry two distinct payloads from Australian companies:
- Akula Tech’s Nexus-01, featuring an advanced Artificial Intelligence (AI) module with onboard data processing and AI/ML model retraining capabilities.
- Esper Satellites’ OTR-2, equipped with a hyperspectral imager for detailed earth observation and remote sensing.
- The AI module can optimize and compress geospatial AI/ML models to function efficiently in space, supporting applications like fire detection, anomaly detection, and spectral analysis.
- These AI/ML models will continuously retrain using live sensor data, improving over time during the satellite’s mission lifetime.
- The mission showcases a collaborative technological advancement by combining AI and hyperspectral imaging on a modular, payload-agnostic satellite platform.
- This launch will provide flight heritage to five distinct AI software products, enabling remote uplink of new AI/ML models throughout the mission.
CURRENT AFFAIRS: MOUS AND AGREEMENT
National Medicinal Plants Board Signs Two Key MoUs to Promote Conservation and Awareness of Medicinal Plants
- The National Medicinal Plants Board (NMPB), under the Ministry of Ayush, signed two important Memoranda of Understanding (MoUs) in the presence of Union Minister of State of Ayush (Independent Charge) and Minister of State for Health & Family Welfare, Shri Prataprao Jadhav, at Nirman Bhawan, New Delhi.
- These agreements aim to enhance conservation efforts and raise public awareness of India’s rich medicinal plant heritage by integrating traditional knowledge with modern science.
Key Highlights:
- MoU 1: NMPB & IshVed-Bioplants Venture, Pune
- Objective: Conservation and maintenance of germplasm of Rare, Endangered, and Threatened (RET) medicinal plants using tissue culture methods.
- Focus: Development of cultivation protocols and extensive propagation techniques to ensure accessibility and preservation of RET species used in the Ayush industry.
- Collaboration: Both parties will harness their expertise and resources to boost the medicinal plant sector.
- MoU 2: NMPB, All India Institute of Ayurveda (AIIA), and AIIMS, New Delhi
- Objective: Establishment of a national-level medicinal plants garden at AIIMS, New Delhi.
- Purpose: Spread public awareness on medicinal plants among patients, students, and visitors.
- Coordination: AIIA will oversee implementation and promote knowledge sharing among all stakeholders.
- Significance of the MoUs:
- Align with PM Narendra Modi’s vision of a healthier, self-reliant India by 2047.
- Reflect the Ministry of Ayush’s commitment to evidence-based conservation, research, and community engagement in the medicinal plant sector.
- Dignitaries Present:
- Shri Vaidya Rajesh Kotecha (Secretary, Ministry of Ayush)
- Shri M. Srinivas (Director, AIIMS New Delhi)
- Smt. Ankita Mishra Bundela (Joint Secretary, Ministry of Health & Family Welfare)
- Senior officials from NMPB, AIIA, AIIMS, and Ministry of Ayush
Recent news
- The Government of India has launched the Ayush Nivesh Saarthi Portal, a digital platform made to attract and guide investors in the Ayush sector. This portal was developed by the Ministry of Ayush in partnership with invest India
CURRENT AFFAIRS: SPORTS NEWS
Archery Association of India Launches First-Ever Franchise-Based Archery League
- The Archery Association of India (AAI) has announced the launch of the first-of-its-kind Archery League, where both men and women recurve and compound archers from around the world will compete in a franchise-styled tournament.
- The inaugural edition is scheduled to be held in October 2025, spanning 11 days at the Yamuna Sports Complex, Delhi.
- This unique league format is being supported by World Archery, World Archery Asia, and the Ministry of Youth Affairs and Sports, Government of India.
Key Highlights :
- International Participation and Format: The league will host six franchise teams comprising top Indian archers and world’s top 10 ranked foreign archers, promoting global-level competition.
- Duration and Venue: The event will span 11 days in October and will take place at the Yamuna Sports Complex, Delhi.
- Supported by Major Bodies: The initiative has received strong backing from World Archery, World Archery Asia, and India’s Ministry of Youth Affairs and Sports.
- Objective: The league aims to strengthen the archery ecosystem in India and provide a professional platform for Indian archers to compete at international standards.
- Significance: This league is expected to be a milestone in Indian archery, establishing India as a prominent venue for global-level archery tournaments and attracting more youth to the sport.
India’s First FIFA Talent Academy for Girls Launched in Hyderabad
- India marked a historic step in youth football with the launch of the first FIFA Talent Academy for girls in Hyderabad, following a Memorandum of Understanding (MoU) between the All India Football Federation (AIFF) and the Government of Telangana during the Telangana Sports Conclave at the Hyderabad International Convention Centre.
Key Highlights:
- First FIFA Talent Academy for Girls in India: Located at Gachibowli Stadium Complex, this is the first such academy for girls in India and among the few globally under FIFA’s Talent Development Scheme (TDS).
- Elite Residential Training Program: The academy will train 60 elite players – 30 girls (U16) and 30 boys (U14), with 10 players from Telangana in each group, providing year-round training, residential facilities, education, nutrition, mental wellness, and medical care.
- Supported by FIFA’s TDS: The academy aligns with FIFA’s TDS mandate: Give every talent a chance, and aims to boost grassroots and elite youth development in India.
- Strategic Roles:
- AIFF will manage technical operations, talent scouting, and training curriculum.
- Sports Authority of Telangana (SATG) will provide infrastructure, logistics, education, and welfare support.
- Part of AIFF Vision 2047: Reinforces AIFF’s goal to make India a leading footballing nation and to qualify for U17 Men’s and Women’s FIFA World Cups.
- Backed by Telangana Sports Policy 2025: Supports Telangana’s vision to develop Hyderabad as a national sports hub.
About AIFF
- Founded: 23 June 1937
- Headquarters: Football House, Dwarka, Delhi
- AFC affiliation: 1954
- FIFA affiliation: 1948
- General Secretary: Anilkumar Prabhakaran
CURRENT AFFAIRS: IMPORTANT DAYS
Hiroshima Day 2025: August 6
- Every year August 6 is celebrated as Hiroshima Day. Hiroshima Day 2025 is observed all over the world to promote peace politics.
- This day is observed to raise awareness of the bomb attack on Hiroshima.
History
- In 1945, the United States (US) deployed a nuclear bomb in the city of Hiroshima which is located in the country of Japan. This nuclear bomb wiped out 39 percent of the civilians of Hiroshima.
- The US has named the atomic bomb named “The Little Boy” which was dropped in August 6.
- During the bomb attack, approximately 90,000 to 1,40,000 people were killed and thousands of people were injured.
- When the bomb was dropped, Japan was struck by a blinding light, and giant shaped cloud, and almost 60,000 buildings crashed.
- During the Second World War, Japan was against the US. The United States and its allies won the war and thousands of soldiers were killed during the war.
- Nuclear radiation comes out of the bomb, and it causes horrible illness among many other people.
Daily CA One- Liner: August 6
- NITI Aayog introduced the India Electric Mobility Index (IEMI), a pioneering tool designed to comprehensively track and benchmark the progress of all Indian States and Union Territories (UTs) in achieving their electric mobility targets
- The Pension Fund Regulatory and Development Authority (PFRDA) has launched its new and upgraded website as part of the PFRDA CONNECT project
- India has emerged as the fifth largest aviation market globally in 2024, handling 241 million passengers, according to the World Air Transport Statistics (WATS) 2024 released by the International Air Transport Association
- Prime Minister Narendra Modi’s flagship initiative, Pariksha Pe Charcha, has earned the Guinness World Record for the ‘Most people registered on a Citizen Engagement Platform in one month’, with 3.53 crore registrations recorded during its 8th edition hosted on the MyGov platform
- The Income Tax Department has awarded the prestigious PAN 2.0 project to LTIMindtree Ltd, a mid-sized IT firm and subsidiary of Larsen & Toubro, for upgrading the technology infrastructure for managing Permanent Account Numbers (PANs).
- In a major step toward India’s clean mobility goals, NITI Aayog launched the report titled ‘Unlocking a $200 Billion Opportunity: Electric Vehicles in India’, offering a comprehensive and timely assessment of the country’s electric vehicle (EV) ecosystem
- Prime Minister Narendra Modi praised the commissioning of India’s first indigenous megawatt-scale green hydrogen plant at Kandla Port, Gujarat, calling it a vital step toward sustainability and India’s Net Zero vision
- The National Medicinal Plants Board (NMPB), under the Ministry of Ayush, signed two important Memoranda of Understanding (MoUs) in the presence of Union Minister of State of Ayush (Independent Charge) and Minister of State for Health & Family Welfare, Shri Prataprao Jadhav, at Nirman Bhawan, New Delhi
- The Archery Association of India (AAI) has announced the launch of the first-of-its-kind Archery League, where both men and women recurve and compound archers from around the world will compete in a franchise-styled tournament
- India marked a historic step in youth football with the launch of the first FIFA Talent Academy for girls in Hyderabad, following a Memorandum of Understanding (MoU) between the All India Football Federation (AIFF) and the Government of Telangana during the Telangana Sports Conclave at the Hyderabad International Convention Centre.
- The Securities and Exchange Board of India (SEBI) has proposed relaxations and a threshold-based framework for Related Party Transactions (RPTs), focusing on disclosure norms and materiality linked to company turnover.
- National Bank for Agriculture and Rural Development (Nabard) has promoted the formation of 6,215 Farmer Producer Organisations (FPOs) under various schemes, as informed in Parliament by Finance Minister Nirmala Sitharaman.
- Indus Appstore, a homegrown Android app marketplace by PhonePe, has announced a strategic OEM partnership with Alcatel, a French consumer technology brand.
- Over the last five years (FY21 to FY25), Central Goods & Services Tax (CGST) field officers detected GST evasion worth approximately ₹7.08 lakh crore across 91,370 cases.
- IRDAI (Insurance Regulatory and Development Authority of India) has imposed a ₹5 crore penalty on Policybazaar Insurance Brokers for violations of insurance norms.
- India’s merchandise exports to the US are expected to contract by 30% to $60.6 billion in FY26 due to additional 25% tariffs imposed by the US under President Donald Trump.
- The Telangana government appointed Sanjiv Goenka, Chairman of RP Sanjiv Goenka Group, as Chairman of the Telangana Sports Hub to promote the sports ecosystem in the state.
- PB Balaji was appointed as the Chief Executive Officer (CEO) of Jaguar Land Rover (JLR), becoming the first Indian to hold this position at the British brand.
- Dhruva Space, a Hyderabad-based space tech startup, will launch its first commercial satellite mission LEAP-1 by the third quarter of 2025 onboard SpaceX’s Falcon-9 rocket.
- Every year August 6 is celebrated as Hiroshima Day. Hiroshima Day 2025 is observed all over the world to promote peace politics.
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